Oromin(OLE:V) finds 3 new gold deposits, good intersections
Oromin Explorations Ltd.
TSX: OLE
OTC Bulletin Board: OLEPF
Jan 12, 2009 20:15 ET
Oromin Explorations Ltd.: 2008 Drill Program Identifies Additional Gold Deposits at Sabodala-Currently Six Deposits Discovered by Oromin
2009 Prefeasibility and Advanced Exploration Drilling Program Now Underway
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 12, 2009) - Oromin Explorations Ltd. (TSX:OLE)(OTCBB:OLEPF) -
Highlights
- Three newly discovered gold deposits (Kerekounda, Niakafiri, Maki Medina) compliment three previous Oromin gold deposit discoveries (Masato, Golouma West, Golouma South)
- Resource update for all drilling to end of 2008 to be completed in January 2009, including 375 drill holes completed since initial resource calculations
- Prefeasibility study begins in January 2009
- Latest drilling results include:
-- 25 metres of 8.86 g/t gold in DH-312 at Masato
-- 14 metres of 4.53 g/t gold in RC-432 at Masato
-- 5 metres of 15.01 g/t gold and 9 metres of 5.26 g/t gold in DH-316 at Golouma South
-- 18 metres of 3.41 g/t gold in DH-371 at Golouma West
-- 9 metres of 15.51 g/t gold in DH-376 at Kerekounda
-- 6 metres of 35.41 g/t gold in DH-390 at Kerekounda
-- 4 metres of 5.24 g/t gold and 24 metres of 1.40 g/t gold in DH-369 at Niakafiri
-- 7 metres of 6.09 g/t gold and 55 metres of 1.52 g/t gold in RC-494 at Niakafiri
-- 13 metres of 2.51 g/t gold in DH-394 at Maki Medina
-- 3 metres of 6.50 g/t gold and 11 metres of 2.30 g/t gold in DH-395 at Maki Medina
Oromin Explorations Ltd. ("Oromin"), on behalf of the Oromin Joint Venture Group ("OJVG"), is pleased to announce additional results from the ongoing step-out and in-fill drilling program at its Sabodala Exploration Concession in eastern Senegal. Oromin's 2008 drilling program has focussed on resource definition and delineation at several of its numerous gold zones and gold deposits, including the Masato, Golouma West and Golouma South gold deposits from which the Project's initial NI 43-101 resource calculation was calculated, based on drilling results from 555 drill holes completed to the end of May 2008. Subsequent to that initial calculation, 375 additional drill holes have now been completed.
Oromin is planning an update to its Sabodala Project resource to include all drilling results to the end of December 2008 which should be completed by late January 2009. In addition to further drilling at all three previously established gold deposits, (Masato, Golouma West and Golouma South), Oromin has most recently focussed on drilling programs at Maki Medina, Kerekounda and Niakafiri Southeast. Based both on prior results and on current results reported here, each of these three targets has now been upgraded to deposit status; accordingly, their initial resources will now be included in the Project's overall total. Furthermore, preliminary drilling has also been undertaken at the Sekoto, Cloverleaf and Korolo gold zones, presently the next tier of priority targets leading into 2009. Results from the property-wide exploration program continue to support Oromin's original conceptual model of multiple gold deposits within the Sabodala Exploration Concession as a key component in the rapidly developing mineral district of eastern Senegal.
MASATO DEPOSIT
The greatest distribution of drilling since Oromin's initial resource calculation has been directed at the Masato Deposit (initial inferred resource estimate of 16.6 million tonnes grading 1.25 g/t gold for 670,000 ounces of contained gold). Drilling since the resource estimate has focussed on both in-fill and extensive step-out drilling along trend as well as both up-dip and down-dip of previous drilling. The Masato Deposit; multiple, sub-parallel mineralized horizons within a broad alteration zone, has been successfully drilled for over 2.0 kilometres of strike extent and to depths exceeding 200 metres and remains open both laterally and vertically.
Significant recently received results are shown in the following table:
-------------------------------------------------------------------------- Grid Azimuth/ From - To Interval GoldDrill Hole Co-ordinate Dip (m) (m) (g/t)--------------------------------------------------------------------------DH-306 58993N/4517E 110/-65 80-98 18 1.35 incl.94-98 4 2.90--------------------------------------------------------------------------DH-310 59616N/4588E 110/-50 12-17 5 1.95 22-27 5 4.21 incl.23-24 1 15.98 33-53 20 1.69 incl.37-42 5 4.15 64-69 5 2.36--------------------------------------------------------------------------DH-311 59785N/4722E 110/-50 26-44 18 1.38 incl.35-43 8 2.57--------------------------------------------------------------------------DH-312 59659N/4447E 110/-80 180-205 25 8.86 incl.183-195 12 17.26 incl.189-190 1 124.5--------------------------------------------------------------------------DH-315 59669N/4671E 110/-50 0-29 29 1.20 incl.25-28 3 3.16--------------------------------------------------------------------------DH-317 59745N/4460E 110/-77 189-199 10 1.35 incl.192-197 5 2.38 247-248 1 78.81--------------------------------------------------------------------------DH-334 59279N/4523E 110/-55 0-5 5 5.00 56-86 30 1.67 incl.64-73 9 3.95--------------------------------------------------------------------------DH-335 59786N/4498E 110/-60 114-123 9 5.70 incl.118-119 1 18.38--------------------------------------------------------------------------DH-340 59790N/4491E 110/-70 196-219 23 1.96 incl.205-218 13 3.02--------------------------------------------------------------------------DH-341 59791N/4490E 110/-80 51-62 11 2.88 incl.59-62 3 5.48--------------------------------------------------------------------------DH-383 59100N/4570E 110/-50 0-14 14 1.80 incl.6-14 8 2.55--------------------------------------------------------------------------RC-395 59507N/4582E 110/-50 0-16 16 2.19 incl.5-12 7 3.20 29-46 17 2.44 incl.34-39 5 6.44--------------------------------------------------------------------------RC-424 59577N/4568E 110/-70 141-154 13 2.50 incl.143-147 4 6.07--------------------------------------------------------------------------RC-426 59575N/4568E 110/-50 0-14 14 3.13 incl.9-12 3 8.38 24-49 25 1.08 incl.24-29 5 1.90--------------------------------------------------------------------------RC-428 59487N/4469E 110/-50 76-81 5 1.62 114-135 21 2.10 incl.125-134 9 3.97 155-172 17 1.35--------------------------------------------------------------------------RC-429 59410N/4454E 110/-75 137-164 27 1.64 incl.144-148 4 3.05--------------------------------------------------------------------------RC-430 59289N/4496E 110/-65 29-38 9 2.71 49-53 4 2.56 102-115 13 1.99 incl.112-115 3 5.89 121-129 8 3.49 incl.121-125 4 6.50--------------------------------------------------------------------------RC-432 59200N/4545E 110/-50 17-22 5 2.00 72-86 14 4.53 incl.77-83 6 8.45--------------------------------------------------------------------------RC-467 60301N/4818E 115/-50 86-114 28 1.38 incl.96-107 11 2.97--------------------------------------------------------------------------RC-469 59285N/4584E 110/-60 0-22 22 2.78 incl.0-5 5 7.30--------------------------------------------------------------------------RC-507 59015N/4570E 110/-65 27-35 8 1.40 39-56 17 1.84 incl.39-45 6 3.12--------------------------------------------------------------------------
Mineralized intervals are based on 1-metre composite samples utilizing a0.5 g/t gold cut-off level with a maximum internal dilution of 2 metres. Nocutting of gold assays has been employed for reported intervals. Theattitude of mineralized intervals varies and reported mineralizedintersections may not represent true widths.
GOLOUMA SOUTH DEPOSIT
A small number of new drill holes were recently completed at the Golouma South Deposit (initial inferred resource estimate of 1.8 million tonnes grading 3.61 g/t gold for 210,000 contained ounces of gold) and have successfully intersected mineralization at depth beyond previous drilling. Results include:
-------------------------------------------------------------------------- Grid Azimuth/ From - To Interval GoldDrill Hole Co-ordinate Dip (m) (m) (g/t)--------------------------------------------------------------------------DH-316 53116N/5033E 110/-70 199-204 5 15.01 incl.202-203 1 46.30 211-220 9 5.26 incl.216-219 3 9.60--------------------------------------------------------------------------DH-324 53138N/5045E 110/-60 170-174 4 3.56 231-233 2 85.10--------------------------------------------------------------------------DH-330 53138N/5045E 110/-75 190-199 10 2.84 incl.194-199 5 3.69--------------------------------------------------------------------------
Mineralized intervals are based on 1-metre composite samples utilizing a0.5 g/t gold cut-off level with a maximum internal dilution of 2 metres. Nocutting of gold assays has been employed for reported intervals. Theattitude of mineralized intervals varies and reported mineralizedintersections may not represent true widths.
GOLOUMA WEST DEPOSIT
One recent hole of significance has been completed at the Golouma West Deposit (initial inferred resource estimate of 6.7 million tonnes grading 2.38 g/t gold for 520,000 contained ounces of gold), testing for the down-dip, down-plunge extension to mineralization associated with the West Limb of the Golouma West Deposit. This drill hole, DH-371, returned an 18-metre interval grading 3.41 g/t gold from a downhole depth of 369 metres. Within this wide interval, a 7-metre portion graded 5.83 g/t gold. Considerable expansion potential remains to be tested here where the potential for underground mining beneath the planned Golouma West open pit will be evaluated.
KEREKOUNDA DEPOSIT
Results received to-date at Kerekounda have delineated a continuous shear-hosted vein system over a minimum strike extent of nearly 250 metres and to a minimum down-dip extent of approximately 200 metres. Previously announced results included 52.61 g/t gold over 9 metres in DH-360, 48.68 g/t gold over 4 metres in DH-367 and 25.34 g/t gold over 7 metres in RC-463.
The following table outlines the significant drilling results recently received from Kerekounda:
-------------------------------------------------------------------------- Grid Azimuth/ From - To Interval GoldDrill Hole Co-ordinate Dip (m) (m) (g/t)--------------------------------------------------------------------------DH-376 54601N/5520E 060/-45 46-55 9 15.51--------------------------------------------------------------------------DH-378 54601N/5520E 060/-65 35-42 7 12.87--------------------------------------------------------------------------DH-390 54583N/5439E 060/-60 139-145 6 35.41 incl.140-141 1 52.23 and 143-144 1 157.4--------------------------------------------------------------------------RC-484 54687N/5349E 060/-65 164-176 12 4.45 incl.168-169 1 15.98 and 175-176 1 25.96--------------------------------------------------------------------------
Mineralized intervals are based on 1-metre composite samples utilizing a0.5 g/t gold cut-off level with a maximum internal dilution of 2 metres. Nocutting of gold assays has been employed for reported intervals. Theattitude of mineralized intervals varies and reported mineralizedintersections may not represent true widths.
Oromin management is encouraged by this early-stage drilling success at Kerekounda. Based on the present geometry, continuity of the mineralized intersections and the high-grade nature of the results received to-date, Oromin considers this as an early-stage underground mining opportunity that will enhance and compliment the previously announced preliminary resources at their Masato, Golouma West and Golouma South gold deposits. The Kerekounda discovery is located 1.5 kilometres north of the Golouma South deposit.
NIAKAFIRI DEPOSIT
Oromin's Niakafiri Deposit is a direct extension of neighbouring Mineral Deposits Limited's Niakafiri Deposit which has been reported to contain approximately 540,000 ounces of gold. Oromin's portion of this gold deposit has been partially tested by grid-based drilling along a 500-metre strike extent to-date. Oromin believes that the Niakafiri Deposit lies within an approximate 8 kilometre structural trend that crosses both Oromin's and MDL's land holdings, with Oromin's Masato Deposit representing the northern portion and the Niakafiri Deposit representing the southern portion. Drilling results received to-date suggest gold mineralization at Niakafiri is very similar to that observed at the Masato Deposit: multiple, sub-parallel strike and depth, and extensive, mineralized horizons within a broad structurally controlled alteration zone.
Significant results received to-date at Niakafiri are shown in the following table:
-------------------------------------------------------------------------- Grid Azimuth/ From - To Interval GoldDrill Hole Co-ordinate Dip (m) (m) (g/t)--------------------------------------------------------------------------DH-359 55857N/3217E 105/-50 48-59 11 1.46 incl.57-59 2 3.96--------------------------------------------------------------------------DH-369 55747N/3146E 105/-50 81-85 4 5.24 106-130 24 1.40 incl.112-118 6 2.79--------------------------------------------------------------------------DH-374 55699N/3174E 105/-50 2-15 13 1.74 incl.10-14 4 4.29 20-26 6 2.02 42-45 3 2.01--------------------------------------------------------------------------DH-377 55807N/3110E 105/-50 154-162 8 2.07--------------------------------------------------------------------------DH-381 55674N/3120E 105/-50 80-85 5 1.80--------------------------------------------------------------------------DH-388 55876N/3143E 105/-50 169-177 8 1.79 incl.170-171 1 8.06--------------------------------------------------------------------------DH-408 55516N/3115E 105/-50 105-114 9 1.92 incl.105-107 2 3.64--------------------------------------------------------------------------RC-399 55777N/3194E 105/-50 16-45 29 1.15 incl.17-22 5 2.44 30-34 4 2.27--------------------------------------------------------------------------RC-471 55785N/3158E 105/-50 5-19 14 1.29 incl.6-10 4 2.63 118-136 18 1.68 incl.118-125 7 3.43--------------------------------------------------------------------------RC-473 55845N/3255E 105/-50 2-39 37 2.28 incl.17-25 8 6.37--------------------------------------------------------------------------RC-474 55758N/3108E 105/-50 160-182 22 1.28 incl.169-181 12 1.70 incl.176-181 5 2.33--------------------------------------------------------------------------RC-476 55711N/3136E 105/-50 119-129 10 1.36 incl.124-128 4 2.34--------------------------------------------------------------------------RC-488 55621N/3159E 105/-50 68-77 9 2.05--------------------------------------------------------------------------RC-490 55765N/3154E 105/-50 7-35 28 1.39 incl.20-23 3 2.96 106-118 12 1.26 incl.117-118 1 7.54 207-215 8 2.67--------------------------------------------------------------------------RC-494 55594N/3125E 105/-50 32-39 7 6.09 171-176 5 1.44 189-197 8 1.35 210-265+ 55+ 1.52 incl.256-265+ 9+ 3.84--------------------------------------------------------------------------
Mineralized intervals are based on 1-metre composite samples utilizing a0.5 g/t gold cut-off level with a maximum internal dilution of 2 metres.The attitude of mineralized intervals varies and reported mineralizedintersections may not represent true widths.
MAKI MEDINA DEPOSIT
The Maki Medina Deposit is coincident with a gold-in-soil geochemical anomaly covering approximately 1.2 kilometres in strike extent of which the central 900 metres has been partially tested by wide spaced initial drilling. Maki Medina is located 2.0 kilometres south westerly from the Niakafiri Deposit and may represent a southward extension of the same regional structural control hosting Oromin's Masato and Niakafiri Deposits.
Significant results from recent wide-spaced drilling at Maki Medina are shown in the following table:
-------------------------------------------------------------------------- Grid Azimuth/ From - To Interval GoldDrill Hole Co-ordinate Dip (m) (m) (g/t)--------------------------------------------------------------------------DH-394 53717N/1985E 110/-50 105-118 13 2.51 incl.106-112 6 3.92--------------------------------------------------------------------------DH-395 53727N/1956E 110/-50 52-55 3 6.50 136-147 11 2.30 incl.139-142 3 3.87--------------------------------------------------------------------------DH-402 54025N/2050E 110/-50 53-61 8 1.65 incl.56-58 2 4.37--------------------------------------------------------------------------RC-437 53323N/1846E 110/-50 16-25 9 1.23 incl.16-18 2 2.87--------------------------------------------------------------------------RC-443 53850N/2071E 110/-50 33-43 10 1.85 incl.38-42 4 3.16--------------------------------------------------------------------------RC-444 53778N/2047E 110/-50 44-56 12 1.35 incl.46-51 5 2.24--------------------------------------------------------------------------RC-446 53907N/2040E 110/-50 72-77 5 1.49--------------------------------------------------------------------------RC-448 54064N/2061E 110/-50 19-22 3 1.49 44-55 11 1.46--------------------------------------------------------------------------RC-449 54139N/2088E 110/-50 59-64 5 1.75--------------------------------------------------------------------------RC-452 53529N/1918E 110/-50 147-154 7 1.68--------------------------------------------------------------------------
Mineralized intervals are based on 1-metre composite samples utilizing a0.5 g/t gold cut-off level with a maximum internal dilution of 2 metres.The attitude of mineralized intervals varies and reported mineralizedintersections may not represent true widths.
Oromin's geological and sub-contracted drilling crews have initiated remobilization to Sabodala to begin the 2009 advanced exploration program and Prefeasibility Study.
Doug Turnbull, P. Geo., a "qualified person" for the purposes of National Instrument 43-101, has verified the data disclosed in this news release. William Bond, P. Geo., also a "qualified person" for the purposes of National Instrument 43-101, has supervised geologic field procedures. TSL Laboratories in Saskatoon carried out all assaying under industry-standard QA/QC procedures.
To find out more about Oromin Explorations Ltd., visit www.oromin.com. Please refer to the maps which set out the Sabodala deposits and zones under "investor info/articles and reports" on the website, and our previous news releases, for additional project information.
On behalf of the Board of Directors of OROMIN EXPLORATIONS LTD.
Chet Idziszek, President
Cautionary Statement
[obvious tedium omitted]
For more information, please contact
Oromin Explorations Ltd.
David Scott
Investor Relations
(604) 331-8772 or Toll Free: 1-877-529-8475
(604) 331-8773 (FAX)
Email: dscott@mine-tech.com
Website: www.oromin.com
